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The headlines of the employment rate are fin, but ometimes you need to dig a little deeper.

From  todays ABS Labour force stats

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So, the participation rated dropped, more people not looking for work.

There was an increase in employment, but monthly hours worked decreased.

So obviously it means hors worked per person dropped.

The "seasonally adjusted" data  below.

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So, to get to the headline unemployment decrease, the data had to be massaged.

Note that the breakdown in full time versus opart time was only mentioned in the seasonally adjusted data section.

Being the cynic that I am, I would suggest that it was because the ABS seasonally adjusted them to death.

The seasonally adjusted fulltime figure of 9,824,900, plus the seasonally adjusted part time figure of 4,444,700 neatly adds up to  to the total employment figure of 14,269,600.

But that assumes that non of the part time or full time employees have more than one job.

I call BS on that one.

When one looks at the trend figures, we see that rather than the headline "seasonally adjusted " new jobs of 116,500,  the actual number was only 26,600.

The  unadjusted monthly hours worked  fell by 11 million hours, whereas the seasonal adjustments turned it in  a plus 15 million hours.

People can read into the stats what they like.

I am reading somewhat differently to the MSM.

Mick

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